Page 166 - Malaysia Baharu 2018
P. 166
was a Deputy Governor between 2010 business continuity management,
and 2016, and was subsequently procurement and risk governance.
at the International Monetary Fund.
During the year, the Board deliberated In 2018, the Bank initiated a five-
on a number of legislative reforms to pronged cybersecurity strategy to
facilitate the currency management further strengthen the protection of
operations and enforcement activities the organisation’s critical information
of the Bank. The Board also reviewed assets. These efforts are supported
the overall performance of the Bank, by strengthened governance and
and discussed the Bank’s corporate operating structures that have been
performance indicators for 2019. put in place to drive and oversee
Additionally, the Board deliberated on cybersecurity risk management across
6 | MALAYSIAN ECONOMY various organisational development the Bank. Specifically, the Bank
priorities including new demands on has established the Cybersecurity
the Bank’s management of human and Data Protection unit within the
capital, digital transformation journey, Digital and Technology Department to
defences against cyberthreats, and undertake enterprise-wide cybersecurity
initiatives to reinforce a strong culture management function. In addition, a
of integrity, ethical conduct and Cyber and Information Security Working
professionalism among the Bank’s Group was formalised to drive the
employees. The Bank also initiated an implementation of the Bank’s cyber
internal review to further strengthen and information security initiatives.
its overall framework for governance.
Accordingly, the Bank will take this Digital technologies are reshaping
opportunity to examine the efficacy of industries and organisations all over
decision-making structures within the the world. On its part, the Bank began
Bank and ensure its operations and work to draw up a digital transformation
priorities remain consistent with its strategy and roadmap to fully harness
mandates. the potential and value of technology
in supporting the effective delivery of
The Bank ensures prudent and the Bank’s mandates. In the near-term,
responsible conduct of its operations enhancements are being made to the
and activities through effective risk Bank’s technology infrastructure and
management. In 2018, the enterprise services to support digital workplace
risk appetite and tolerance statement improvements. At the same time, the
was reviewed to give greater Bank continues to lay the groundwork
prominence to global digitalisation to modernise and put in place next
and the increased sophistication generation technology infrastructure
of cyberthreats. Adherence to high to form the core digital platform for the
ethical standards underpins the organisation to build on.
Bank’s risk culture. This is reinforced
through a whistleblowing framework The Bank is committed to attracting
that provides an avenue for reporting and developing the best talents to
improper conduct involving the Bank. deliver on its mandates. In keeping with
The framework was revised during the this commitment, the Bank conducted
year to align it with the Whistleblower a survey to ascertain employee
Protection Act 2010 and best practice. engagement and enablement levels
The Internal Audit Department conducts across the organisation. The Bank is
regular assessments on the activities committed to upholding the highest
of departments and entities related standards of professionalism. This
to the Bank to identify and address involves ongoing efforts to promote
risks. Audits in 2018 were conducted organisation’s ethics and culture. In
in a number of areas, which include 2018, the Bank undertook specific
cybersecurity, data protection, initiatives to reinforce a positive
treasury and reserve management, culture of engagement at all levels of
164
and 2016, and was subsequently procurement and risk governance.
at the International Monetary Fund.
During the year, the Board deliberated In 2018, the Bank initiated a five-
on a number of legislative reforms to pronged cybersecurity strategy to
facilitate the currency management further strengthen the protection of
operations and enforcement activities the organisation’s critical information
of the Bank. The Board also reviewed assets. These efforts are supported
the overall performance of the Bank, by strengthened governance and
and discussed the Bank’s corporate operating structures that have been
performance indicators for 2019. put in place to drive and oversee
Additionally, the Board deliberated on cybersecurity risk management across
6 | MALAYSIAN ECONOMY various organisational development the Bank. Specifically, the Bank
priorities including new demands on has established the Cybersecurity
the Bank’s management of human and Data Protection unit within the
capital, digital transformation journey, Digital and Technology Department to
defences against cyberthreats, and undertake enterprise-wide cybersecurity
initiatives to reinforce a strong culture management function. In addition, a
of integrity, ethical conduct and Cyber and Information Security Working
professionalism among the Bank’s Group was formalised to drive the
employees. The Bank also initiated an implementation of the Bank’s cyber
internal review to further strengthen and information security initiatives.
its overall framework for governance.
Accordingly, the Bank will take this Digital technologies are reshaping
opportunity to examine the efficacy of industries and organisations all over
decision-making structures within the the world. On its part, the Bank began
Bank and ensure its operations and work to draw up a digital transformation
priorities remain consistent with its strategy and roadmap to fully harness
mandates. the potential and value of technology
in supporting the effective delivery of
The Bank ensures prudent and the Bank’s mandates. In the near-term,
responsible conduct of its operations enhancements are being made to the
and activities through effective risk Bank’s technology infrastructure and
management. In 2018, the enterprise services to support digital workplace
risk appetite and tolerance statement improvements. At the same time, the
was reviewed to give greater Bank continues to lay the groundwork
prominence to global digitalisation to modernise and put in place next
and the increased sophistication generation technology infrastructure
of cyberthreats. Adherence to high to form the core digital platform for the
ethical standards underpins the organisation to build on.
Bank’s risk culture. This is reinforced
through a whistleblowing framework The Bank is committed to attracting
that provides an avenue for reporting and developing the best talents to
improper conduct involving the Bank. deliver on its mandates. In keeping with
The framework was revised during the this commitment, the Bank conducted
year to align it with the Whistleblower a survey to ascertain employee
Protection Act 2010 and best practice. engagement and enablement levels
The Internal Audit Department conducts across the organisation. The Bank is
regular assessments on the activities committed to upholding the highest
of departments and entities related standards of professionalism. This
to the Bank to identify and address involves ongoing efforts to promote
risks. Audits in 2018 were conducted organisation’s ethics and culture. In
in a number of areas, which include 2018, the Bank undertook specific
cybersecurity, data protection, initiatives to reinforce a positive
treasury and reserve management, culture of engagement at all levels of
164
